Home Sales Reach 5.8 Lakh Units in 2024, Valued at Rs 4 Trillion
MUMBAI: Home sales have surge to 5.8 lakh units, valued at Rs 4 trillion in 2024, marking a 4% increase from the previous year. The residential real estate market is poised for even better days in 2025, with over 3.6 lakh units expected to be delivered ac
Home SalesReal Estate MarketProperty PricesSquare YardsResidential UnitsReal Estate MumbaiJan 01, 2025
This represents a 4% increase from the previous year, when 5.56 lakh units were sold.
The market looks set for brighter days in 2025, with over 3.6 lakh units expected to be delivered across major cities.
Top developers are working diligently to complete a pipeline of around 300 million square feet in 2025, indicating a strong focus on meeting the high demand.
Despite a slight moderation in the growth rate, which signals a maturing market, the demand remains well above pre-pandemic levels.
According to Square Yards, a leading portal that tracks property deals, the outlook for 2025 is optimistic, and developers, homebuyers, and investors can look forward to another promising year.
The data from Square Yards reveals that 5.77 lakh residential units were registered in the primary and secondary property markets in 2024, a 4% increase from the 5.56 lakh units sold in 2023.
In value terms, these units commanded a price of over Rs 4.03 trillion, marking a 2% on-year growth over 2023 when the market was valued at Rs 3.95 trillion.
This growth is particularly impressive given the steep percentage price increases across major markets.
Over the past five years, prices in the top markets have soared by more than 60%, with Gurugram leading the pack.
This NCR town has seen a staggering 132% growth in prices since 2019, driven by the increasing demand for luxury and ultra-luxury properties.
The rise in luxury property demand is a clear indicator of the changing preferences and economic conditions in the region.
Developers and stakeholders are optimistic about the future of the real estate market, despite the challenges posed by economic uncertainties and rising construction costs.
The robust demand and ongoing development projects suggest that the market is well-positioned for sustained growth in the coming years.
In conclusion, the residential real estate market in India is showing strong resilience and positive momentum.
With a promising delivery pipeline and a continued surge in demand, the year 2025 is expected to be another successful year for the sector.
Frequently Asked Questions
How many home units were sold in 2024?
In 2024, a total of 5.8 lakh home units were sold in India.
What is the value of home sales in 2024?
The total value of home sales in 2024 was Rs 4 trillion.
What is the expected number of units to be delivered in 2025?
In 2025, over 3.6 lakh units are expected to be delivered across major cities in India.
What is the growth rate of home sales in 2024 compared to 2023?
Home sales in 2024 saw a 4% increase compared to 2023.
Which city has seen the highest price increase in the past five years?
Gurugram has seen the highest price increase, with a 132% rise in property prices since 2019.
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